§ 58. Sir H. Williams
asked the Chanceller of the Exchequer whether he is prepared to consider making some allowance to property owners in respect of the cost of the administration of their property, so far as assessment to property tax is concerned, having regard to the fact that the existing deductions are only intended to cover the average cost of repairs?
§ Sir K. Wood
I would remind my hon. Friend that under the provisions of Rule 8 of No. V in Schedule A of the Income Tax Act, 1918, a property owner can obtain relief from Income Tax where his actual expenditure on maintenance, repairs, insurance and management, taken on a five years' average, exceeds the flat-rate allowances to which my hon. Friend refers.